Barclays Has Lowered Expectations for Plymouth Industrial REIT (NYSE:PLYM) Stock Price

Plymouth Industrial REIT (NYSE:PLYM) had its target price lowered by stock analysts at Barclays from $25.00 to $22.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 18.44% from the company’s current price.

PLYM has been the topic of a number of other reports. BMO Capital Markets dropped their target price on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating on the stock in a report on Wednesday, August 28th. JMP Securities restated a “market outperform” rating and set a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. Truist Financial boosted their price objective on Plymouth Industrial REIT from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Robert W. Baird dropped their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Finally, BNP Paribas downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Plymouth Industrial REIT currently has an average rating of “Hold” and an average price target of $24.89.

Plymouth Industrial REIT Stock Up 1.2 %

NYSE:PLYM opened at $18.58 on Monday. Plymouth Industrial REIT has a twelve month low of $18.08 and a twelve month high of $25.55. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42. The stock’s 50 day moving average price is $21.36 and its two-hundred day moving average price is $21.95. The firm has a market capitalization of $843.10 million, a price-to-earnings ratio of 928.75, a price-to-earnings-growth ratio of 1.43 and a beta of 1.37.

Insiders Place Their Bets

In other news, Director Pendleton P. Jr. White acquired 5,000 shares of the stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $18.39 per share, with a total value of $91,950.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $91,950. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey E. Witherell bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $18.49 per share, for a total transaction of $36,980.00. Following the completion of the transaction, the chief executive officer now owns 252,248 shares in the company, valued at $4,664,065.52. This trade represents a 0.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Plymouth Industrial REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Meros Investment Management LP grew its stake in shares of Plymouth Industrial REIT by 38.2% in the second quarter. Meros Investment Management LP now owns 402,923 shares of the company’s stock worth $8,614,000 after purchasing an additional 111,339 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Plymouth Industrial REIT by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock valued at $95,943,000 after buying an additional 115,318 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in shares of Plymouth Industrial REIT by 1.0% in the second quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock valued at $63,372,000 after buying an additional 28,272 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Plymouth Industrial REIT by 17.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,008 shares of the company’s stock worth $293,000 after acquiring an additional 1,892 shares during the last quarter. Finally, F M Investments LLC acquired a new position in shares of Plymouth Industrial REIT in the second quarter worth approximately $6,088,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Plymouth Industrial REIT Company Profile

Plymouth Industrial REIT, Inc (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost effective space that is functional, flexible and safe.